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Faber: Dubai Debacle Just Tip of Iceberg

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Uber bear investor and Gloom, Boom and Doom Report editor Marc Faber says Dubai World’s debt problems are just the tip of the iceberg, and suggests investors will be better off not buying U.S. government bonds.

“In the context of all the default that will happen in the world, it (Dubai) is not a big thing,” Faber told Bloomberg. “But it’s a reminder that governments can default.”